Alvotech

ICSE:ALVO Stock Report

Market Cap: ISK 311.8b

Alvotech Valuation

Is ALVO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ALVO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

ISK 5.58k
Fair Value
82.2% undervalued intrinsic discount
5
Number of Analysts

Below Fair Value: ALVO (ISK994) is trading below our estimate of fair value (ISK5580.33)

Significantly Below Fair Value: ALVO is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for ALVO?

Key metric: As ALVO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ALVO. This is calculated by dividing ALVO's market cap by their current earnings.
What is ALVO's PE Ratio?
PE Ratio40.5x
EarningsUS$63.36m
Market CapUS$2.56b

Price to Earnings Ratio vs Peers

How does ALVO's PE Ratio compare to its peers?

The above table shows the PE ratio for ALVO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average49.4x
PTGX Protagonist Therapeutics
79.4x37.33%US$4.1b
BIOA B BioArctic
25.6x-5.50%SEK 26.4b
TGTX TG Therapeutics
87.2x39.13%US$5.4b
CVAC CureVac
5.3x-35.01%US$1.2b
ALVO Alvotech
40.5x50.38%ISK 2.6b

Price-To-Earnings vs Peers: ALVO is good value based on its Price-To-Earnings Ratio (40.5x) compared to the peer average (49.4x).


Price to Earnings Ratio vs Industry

How does ALVO's PE Ratio compare vs other companies in the European Biotechs Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ALVO 40.5xIndustry Avg. 20.4xNo. of Companies4PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ALVO is expensive based on its Price-To-Earnings Ratio (40.5x) compared to the European Biotechs industry average (20.4x).


Price to Earnings Ratio vs Fair Ratio

What is ALVO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ALVO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio40.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ALVO's Price-To-Earnings Fair Ratio for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ALVO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentISK 994.00
ISK 2,122.75
+113.56%
30.98%ISK 3,396.40ISK 1,698.20n/a5
Sep ’26ISK 992.00
ISK 2,162.48
+117.99%
30.98%ISK 3,459.96ISK 1,729.98n/a5
Aug ’26ISK 1,130.00
ISK 2,144.28
+89.76%
30.98%ISK 3,430.84ISK 1,715.42n/a5
Jul ’26ISK 1,115.00
ISK 2,201.52
+97.45%
29.16%ISK 3,443.72ISK 1,721.86n/a5
Jun ’26ISK 1,450.00
ISK 2,299.14
+58.56%
32.39%ISK 3,576.44ISK 1,788.22n/a4
May ’26ISK 990.00
ISK 2,330.19
+135.37%
32.39%ISK 3,624.74ISK 1,812.37n/a4
Apr ’26ISK 1,285.00
ISK 2,464.20
+91.77%
30.93%ISK 3,729.60ISK 1,864.80n/a4
Mar ’26ISK 1,585.00
ISK 2,645.89
+66.93%
25.36%ISK 3,933.72ISK 1,966.86n/a6
Feb ’26ISK 1,800.00
ISK 2,379.45
+32.19%
42.01%ISK 3,829.00ISK 820.50n/a5
Jan ’26ISK 1,775.00
ISK 2,379.45
+34.05%
42.01%ISK 3,829.00ISK 820.50n/a5
Dec ’25ISK 1,620.00
ISK 2,379.45
+46.88%
42.01%ISK 3,829.00ISK 820.50n/a5
Nov ’25ISK 1,820.00
ISK 2,396.68
+31.69%
42.01%ISK 3,856.72ISK 826.44n/a5
Oct ’25ISK 1,625.00
ISK 2,304.31
+41.80%
40.35%ISK 3,832.92ISK 821.34ISK 994.006
Sep ’25ISK 1,625.00
ISK 2,313.15
+42.35%
40.35%ISK 3,847.62ISK 824.49ISK 992.006
Aug ’25ISK 1,645.00
ISK 2,319.30
+40.99%
40.35%ISK 3,857.84ISK 826.68ISK 1,130.006
Jul ’25ISK 1,675.00
ISK 2,345.39
+40.02%
44.77%ISK 3,901.24ISK 835.98ISK 1,115.006
Jun ’25ISK 1,885.00
ISK 2,327.71
+23.49%
44.77%ISK 3,871.84ISK 829.68ISK 1,450.006
May ’25ISK 2,080.00
ISK 2,313.80
+11.24%
44.50%ISK 3,926.44ISK 841.38ISK 990.006
Apr ’25ISK 1,750.00
ISK 2,270.07
+29.72%
44.50%ISK 3,852.24ISK 825.48ISK 1,285.006
Mar ’25ISK 2,180.00
ISK 2,018.43
-7.41%
51.58%ISK 3,853.36ISK 825.72ISK 1,585.006
Feb ’25ISK 2,180.00
ISK 1,692.26
-22.37%
44.57%ISK 3,018.62ISK 823.26ISK 1,800.006
Jan ’25ISK 1,585.00
ISK 1,565.46
-1.23%
45.78%ISK 3,084.18ISK 841.14ISK 1,775.006
Dec ’24ISK 1,385.00
ISK 1,560.38
+12.66%
45.45%ISK 3,051.40ISK 832.20ISK 1,620.006
Nov ’24ISK 1,200.00
ISK 1,560.38
+30.03%
45.45%ISK 3,051.40ISK 832.20ISK 1,820.006
Oct ’24ISK 1,285.00
ISK 1,421.56
+10.63%
54.05%ISK 3,002.34ISK 682.35ISK 1,625.006
ISK 2.12k
Fair Value
53.2% undervalued intrinsic discount
5
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/01 17:22
End of Day Share Price 2025/10/01 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Alvotech is covered by 8 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andrew BaumCitigroup Inc
Peter VerdultCitigroup Inc
Emmanuel PapadakisDeutsche Bank